AirAsia will extend a US$1.1 million convertible loan to Touristly. AirAsia will also transfer the digital component of its inflight magazine, which is worth US$1.5 million, to Touristly.

Founded in 2015, the startup offers more than 13,000 discounted deals on tours, attractions, and restaurants etc. in 70 destinations around Asia-Pacific. After the deal.

Korean accelerator SparkLabs expands to China, aims for launching FinTech accelerator in Hong Kong later this year

SparkLabs, a Seoul-based accelerator announced its launch in Beijing on 18th April 2017. SparkLabs will also launch its branches in Shanghai, Chengdu, and Shenzhen on 15th May this year. The Beijing accelerator aims to help startups in AI, VR, AR, IoT, gaming, mobile, FinTech, and healthcare. Startups will have the opportunity to receive up to US$50,000 in capital for up to 6 percent in equity after completing the three-month program.

SparkLabs is also planning to launch a FinTech-focused accelerator in Hong Kong in September.

U-Parking aims to use the funding on expansion to major cities in China such as Guangzhou, Shanghai, and Shenzhen. Founded in 2014, the startup is run by a 20-man team. The parking space booking service is available as a mobile app as well as a WeChat account.